By Nchetachi Chukwuajah
President Bola Tinubu has signed the 2026 Appropriation Bill into law, with an aggregate N68.32 trillion expenditure for the current fiscal year.
Tinubu also signed a separate bill to extend the implementation period of the 2025 budget from March 31 to June 30, 2026.
The presidency disclosed this in a statement signed by Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Friday, April 17.
The 2026 budget allocates N4.799 trillion for statutory transfers and N15.8 trillion for debt service.
It further earmarks N15.4 trillion for recurrent expenditure and N32.2 trillion for capital expenditure through the Development Fund.
The statement read, “President Bola Ahmed Tinubu has assented to the 2026 Appropriation Bill, which provides for an aggregate expenditure of N68.32 trillion. He has also signed the bill extending the implementation period for the 2025 budget from March 31, 2026, to June 30, 2026.
“The N68.32 trillion budget for this year earmarks N4.799 trillion for statutory transfers and N15.8 trillion for debt service. It allocates N15.4 trillion to recurrent expenditure and N32.2 trillion to the Development Fund for Capital Expenditure.
“With capital expenditure accounting for about 50 percent, the 2026 budget underscores the administration’s continued commitment to economic stability, national security, infrastructure development, and inclusive growth.
“The allocations reflect a strategic balance between statutory obligations, debt servicing, recurrent expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians.”
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The Federal Government said the 2026 Appropriation Act took effect on April 1, commencing full implementation in line with the government’s Renewed Hope Agenda.
The president also assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the capital component of the 2025 Appropriation Act by three months to June 30, 2026.
The statement said the extension would ensure the full utilisation of appropriated funds, particularly for critical infrastructure projects at advanced stages of implementation across the country.
“The extension will ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects that are at advanced stages of implementation across the country.
“It will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure,” the statement added.
Tinubu also directed MDAs to ensure disciplined, transparent, and efficient utilisation of allocated resources, with strong emphasis on value for money and timely project delivery.
He commended the leadership and members of the National Assembly for their “diligence, cooperation, and patriotism in expeditiously considering and passing the budget.”
“The president reaffirmed the importance of sustained collaboration between the executive and legislative arms of government in advancing national development objectives,” the statement noted.
Tinubu also assured Nigerians of his administration’s resolve to deepen fiscal reforms and boost revenue generation.
“He further assured Nigerians of his administration’s resolve to deepen fiscal reforms, enhance revenue generation, and prioritise investments that will stimulate economic growth, create jobs, and strengthen social protection mechanisms,” the statement read.
Recall that the budget, titled ‘The Budget of Consolidation, Renewed Resilience and Shared Prosperity,’ was originally presented to a joint session of the National Assembly on December 19, 2025, at a proposed sum of N58.47 trillion.
However, on March 31, 2026, Tinubu requested the National Assembly to upwardly review the proposed budget by N9.81 trillion.
Tinubu explained that the proposed adjustment is intended to enhance fiscal transparency and support the effective execution of key national programmes.
The 2026 Appropriation Bill passed second reading in the House of Representatives on January 29, 2026, before going through further legislative scrutiny and emerging at N68.32 trillion at the point of assent.
